In one session at the summit there were different opinions on what the future may hold in terms of CO2 demand. Bruce Woerner, CO2 Consultant of Woerner CO2 Consulting, noted that demand has shrunk by approximately 10%, most notably due to the coronavirus pandemic, and saw this trend continuing.
“When Covid hit in 2020, CO2 demand in the US plummeted by 15% in the second quarter of that year. There were half as many cars on the road, less demand for gasoline, and also less demand for ethanol. This caused a lot of ethanol plants to close permanently,” Woerner told delegates.
He also notes that, with the easing of the pandemic, customers have had the opportunity to pivot their businesses and look at alternative options for CO2 to help futureproof themselves.
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